A. Preliminary
The Caribbean countries refer to the island nations located in Central America that have coastlines along the Caribbean Sea and lack direct land connections to the Americas. Examples of such countries in this region include Dominica, Grenada, Saint Kitts and Nevis, Antigua, and Barbuda. These countries, which have gained significant attention in recent years, share several common characteristics. Due to the unique natural beauty of the Caribbean, tourists from America, Europe, and Asia frequently choose these countries as vacation destinations. In addition to this, advantages such as low tax rates (or being tax havens), ease of company formation, and visa exemptions also exist. These factors attract global citizens not only for vacation purposes but also to acquire the citizenship of these nations.
The Caribbean countries are known for their vacation and tax benefits, offering direct citizenship to foreign nationals through a specific real estate or financial investment or via donation. Although each country has its own unique rules, the primary difference lies in the varying investment amounts required. This information bulletin will focus on the citizenship-by-investment program in Antigua and Barbuda.
B. Citizenship by Investment in Antigua and Barbuda
Antigua and Barbuda is a country located in the eastern Caribbean Sea, consisting of the islands of Antigua and Barbuda as well as several smaller islands. The official language of the country is English, and it has a historical background as a former British colony. Currently, King Charles III serves as the monarch of the country. Like many other Caribbean nations, Antigua and Barbuda is a member of the Commonwealth of Nations. Its socio-cultural structure is similar to other Caribbean countries, with the tourism sector being a key component of the economy. Additionally, Antigua and Barbuda is rich in phosphate deposits, making it a significant player in the mining industry.
C. Investment Options for Citizenship in Antigua and Barbuda
Applicants can include not only themselves but also their spouses, children under 30, parents over 55, and unmarried siblings in their citizenship application. Furthermore, after obtaining citizenship, future spouses and children can also benefit from this privilege.
The application process is as follows: After applying to the Citizenship by Investment Unit, due diligence checks are conducted to verify the accuracy of the application. If any false or incomplete information is provided, the application will be rejected. The applicant must have a valid reason for seeking citizenship. Once the application of the applicant and those aged 18 and over is approved, they will be subject to a virtual interview.
Since 2012, Antigua and Barbuda has implemented a citizenship-by-investment program. The program has the following eligibility criteria: applicants must be at least 18 years old, and they must have no criminal record. Antigua and Barbuda's citizenship program offers three different investment options, similar to those of other Caribbean nations:
- Citizenship can be obtained by making a donation of USD 200,000 to the National Development Fund (NDF) designated by the government.
- Citizenship can also be acquired by purchasing real estate in an approved hotel or property development project. The minimum investment required for this option is USD 300,000, and the acquired property cannot be sold for 5 years.
- Citizenship can be obtained by purchasing a business worth at least USD 1,500,000, or by purchasing a business worth at least USD 5,000,000 (with a minimum of USD 400,000 per person).
D. Benefits of Antigua and Barbuda Citizenship
There are several benefits associated with citizenship in Antigua and Barbuda. The processing time for applications is typically 4-6 months, making it one of the fastest programs compared to other countries.
Some of the key advantages include:
- Exemption from taxes on international income. Citizens and commercial entities of Antigua and Barbuda are not taxed on foreign income.
- There is no inheritance tax on assets transferred to heirs.
- Rental income from real estate is subject to a 15% tax.
Additionally, Antigua and Barbuda citizens can travel visa-free or with visa-on-arrival access to 143 countries and regions, including the European Union and the Schengen Area. Dual citizenship is also permitted.
E. Conclusion
In today's global order, a new type of citizenship has emerged: Global Citizenship. The first requirement to be a global citizen is the ability to hold citizenship in multiple countries. Golden Visa programs are among the easiest and most affordable ways to acquire citizenship. Therefore, as outlined above, based on the advantages provided and the required conditions and investments, the Caribbean nations are among the most reasonable places to obtain a Golden Visa. By investing in these countries, one can enhance their wealth with low tax rates, expand their social and professional networks with visa-free access to 140 countries, enjoy vacations in the unique Caribbean nature, and benefit from the additional advantages provided by dual citizenship.
The concept of "Global Citizenship" has emerged in the modern world. Becoming a global citizen requires holding citizenship in multiple countries. Golden Visa programs are one of the most straightforward and cost-effective methods of acquiring citizenship. The Caribbean countries, with their low tax rates, opportunities to obtain citizenship through investment, and other offered advantages, are at the forefront of the best locations for obtaining a Golden Visa. By investing in these nations, one can gain visa-free access to 140 countries, enjoy vacations in the exceptional Caribbean environment, and take advantage of the other opportunities provided by dual citizenship.
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